By Claire West
Ofgem has published detailed rule changes to deliver a simpler, clearer and fairer energy market. The proposals are grounded in two years of extensive engagement with consumers and industry.
Now that the proposals have been confirmed suppliers should follow up the good work many have already started and implement Ofgem's reforms as quickly as possible. Otherwise they risk further damage to trust by delaying the benefits being passed on to consumers.
The reforms will tackle problems of widespread consumer confusion over energy tariffs, poor supplier behaviour and lack of transparency which is stifling competition. This will give consumers the choice they want and simplicity to compare energy tariffs, making it much easier to access the information they need to find the best deal on the market.
A fairer market is also just weeks away as Ofgem's standards of conduct to ensure consumers are treated fairly are due to come into force this summer. Once in place companies face investigation and possible fines if they fail to treat consumers fairly.
Andrew Wright, Senior Partner for Markets at Ofgem, said: "Our reforms today are the blueprint for the simpler, clearer and fairer energy market that consumers deserve. This will provide them with the choices they want alongside the simplicity they need.
"They have been delivered following two years of engagement with consumers and industry in the most comprehensive ever review of the retail market.
"Now that our proposals have been confirmed it also gives suppliers a unique opportunity to forge ahead, building on the progress some have already made, and begin to restore trust in the energy market. Further hesitation will only delay benefits for consumers."